Sandoz is a world leader in generics through acquisitions
of Hexal and Eon Labs. Ranked No. 2 worldwide based on net sales with global operations
and leading positions in key markets.
Net sales surge 54%
in 2005 to USD 4.7 billion, bolstered by USD 1.4 billion contribution from Hexal
and Eon Labs.
Operating income advances 30% to USD 342 million,
benefiting from a strong underlying business performance. Hexal and Eon Labs are
performing well and exceeding expectations, leading to a net operating income
contribution of USD 7 million.
Rich pipeline in the US and
Europe with more than 70 new product submissions in 2005, many of which are for
difficult-tomake generics. Sandoz is currently working on more than 600 projects,
covering many of the major generic opportunities in the next few years.
Novartis
is committed to achieving the annual synergies target of USD 200 million expected
within three years of closing. Both acquisitions are expected to be accretive
to Group net income no later than the second half of 2006.
